Markets

Market Opens Week flat despite Positive Sentiments

The Local Bourse trended southwards at the close of Monday’s trading session as the All Share Index marginally declined 2bps to settle at 36,930.83 points while YTD return moderated to 37.4%. Today’s negative performance was primarily dragged by losses in ZENITH (-1.0%), UBA (-2.0%), INTBREW (-3.5%) and TOTAL (-4.7%). Similarly, market capitalisation shed N3.0bn to settle at N12.8tn. Activity level was mixed as volume improved 29.2% to settle at 466.5m units while value traded declined 21.2% to close at N2.9tn.
 

Weekly Market Review and Outlook

Global Equity Market Review and Outlook
Global equity markets were largely bullish this week as oil also gathered momentum. Oil prices sustained a recent rally to close the week at US$60.96/b as market expressed confidence in extended supply cuts by OPEC while a boost in demand from China has had similar effects. Most of the indices under our coverage closed the week in the green with Kenya’s NSE 20 (+4.2%), Egypt’s EGX 30 (+2.6%) and Japan’s Nikkei 225 (+2.4%) leading the way.

Mixed Performance as Equities Halt Bullish Run

The equities market reversed a 3-day gaining streak yesterday, as the All Share Index (ASI) fell 3bps to close at 36,887.15 points, while YTD return moderated to 37.2%. The negative performance was largely due to profit taking in NIGERIAN BREWERIES (-3.2%), DANGCEM (-0.2%) and UNILEVER (-2.4%). As a result, market capitalization reduced by N3.5bn to settle at N12.8tn. However, activity level was mixed as volume traded inched 27.6% higher to 318.1m units while value traded declined 24.1% to N4.0bn respectively.

Mixed Performance across Sectors

Equities Maintain Positive Trend

The positive run in the local bourse extended to the 3rd trading session as the All Share Index (ASI) rose 56bps to settle at 36,880.20 points while YTD return expanded to 37.3%. In the same vein, market capitalization increased by N71.6bn to N12.8tn. Today’s positive performance can be broadly attributed to gains in DANGCEM (+1.6%%), ZENITH (+1.5%) and FBNH (+5.0%). However, activity level was mixed as volume traded declined 3.8% to 249.3m units while value traded spiked 70.3% to N5.2bn.

Bullish Performance across Sectors

Nigerian Equities Market Opens Week Positive

The Nigerian equities market recorded a positive performance on the first trading session of the week as the All Share Index gained 6bps to close at 36,484.30 points, while the YTD return strengthened to 35.8%. In the same vein, market capitalization grew by N7.6bn to N12.6tn. This performance is largely attributable to gains in ZENITH (+1.1%) UBA (+2.5%) and ETI (+2.6%). On the contrary, activity level declined as volume and value traded fell 30.3% and 39.4% to 175.0m units and N1.8bn respectively.
 
Mixed Performance across Sectors

Stock Market Capitalisation Down by ₦19b

Photo: A cross section of dignitaries at the London Stock Exchange –Market Open Ceremony to kick start the 4th edition of the LSE/NSE Capital Market Conference, co-hosted by London Stock Exchange and The Nigerian Stock Exchange in London on Friday.


Investors on the Nigerian Stock Exchange (NSE) on Friday traded 250.89 million shares valued at N3.01 billion exchanged in 3,968 deals.

The volume represented a drop of 29.69 per cent when compared to 356.81 million shares worth N4.22 billion transacted in 4,384 deals on Thursday.

Local Bourse Extends Gain

The positive performance recorded yesterday was sustained on Wednesday as the All Share Index (ASI) advanced 25bps to settle at 36,622.85 points while YTD return expanded to 36.3%. Today’s performance was buoyed by gains in UBA (+3.3%), ZENITH (+1.2%) and SEPLAT (+2.1%). Consequently, market capitalization added N100.3bn to N12.7tn.  In the same vein, activity levels improved as volume and value traded surged 66.6% and 157.4% to settle at 333.0m units and N4.7bn respectively.

Banking Sector Index Leads Gainers

Stock Exchange Rebounds after Downtrend

The Nigerian Bourse reversed the negative trend which began last week, as the All Share Index rose 33bps to close on Tuesday at 36,531.62 points. Similarly, market capitalization increased N41.2bn to settle at N12.6tn. The positive performance was broadly driven by gains in NIGERIAN BREWERIES (+2.6%), ZENITH (+0.8%) and DANGSUGAR (+2.8%). However, market activity weakened as volume and value traded moderated 21.2% and 32.9% to 199.9m units and N1.8bn respectively.
 
Mixed Sector Performance

Equities Market Opens Week Bearish

At the close of trade on Monday, the Nigerian equities market recorded a negative performance as the All Share Index fell 48bps to close at 36,411.73 points, while YTD return eased to 35.5%. Accordingly, market capitalization shed N60.4bn to settle at N12.5tn. The major drag were ZENITH (-3.4%), WAPCO (-9.8%) and NIGERIAN BREWERIES (-1.9%). Contrarily, activity level improved as volume and value traded rose 138.0% and 43.4% to settle at 253.5m units and N2.7bn respectively.

Negative Sector Performance Extended

Lafarge Africa Seeks Approval to Launch ₦132b Rights Issue

Cement maker Lafarge Africa is expecting regulatory approval from Nigerian authorities for a 131.65 billion naira ($431.43 million) rights issue as it focuses on Nigeria for growth and expands into Ghana, its chief financial officer said on Friday.

As part of its plan to refinance its debt, the subsidiary of Franco-Swiss group LafargeHolcim said it would also issue a 25 billion naira of commercial paper on Monday under a 60 billion naira programme.

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